Q-o-Q PAT up 42.06 per cent on standalone basis; up 76.49 per cent on consolidated basis.
Vipul Organics, the leading specialty chemicals company in the pigments and dyes segment, announced their Q1 results for FY 2023-24.
Commenting on the results, Vipul Shah, Managing Director, Vipul Organics, said, “Our Quarter on Quarter sales and PAT have shown a healthy growth. The positive effect of Economies of Scale has also started kicking in, which is reflected in the increase in Profits. We are witnessing green shoots emerging in the international markets, with US showing signs of recovery, while the European markets continue to be challenging. The response from domestic markets continues to be encouraging. The focus on the right mix of Exports and domestic sales has started to pay off. We are confident that we will be able to maintain a healthy growth of 15-18 per cent during the remaining part of the yearâ€
“Our Expansion plans are on track. We have executed the lease papers for our greenfield project at Sakhya, Gujarat. The coming years are going to be exciting for Vipul Orgaincs, with tailwinds in the Pigments segment of the Chemical Industry. As we embark on the next 50 years of Vipul Organics’ journey, we believe that we will be able to set new benchmarks in the Indian Pigment and Dye Industryâ€, Shah added.
About Vipul Organics
Vipul Organics is amongst the foremost manufacturers of pigments, dyestuff, lake colours and pigment intermediaries / fast salts in the country. It has 3 manufacturing facilities spread across Maharashtra and has global footprint in over 50 countries. Vipul Organics ended the financial year 2022-23 with revenues of Rs 134 crore.